Lithium Power International Limited (ASX: $LPI) scheme of arrangement becomes effective

Lithium Power International Limited (ASX: $LPI) has lodged with the Australian Securities and Investments Commission the orders of the Federal Court of Australia approving the scheme of arrangement. The scheme involves a wholly-owned subsidiary of Corporación Nacional del Cobre de Chile, Salar de Maricunga SpA, acquiring 100% of the share capital of LPI. LPI shareholders who hold LPI Shares at the Scheme record date will receive A$0.57 cash for each LPI Share held as at the Scheme Record Date.

Executive Commentary on Scheme of Arrangement

LPI will continue to update LPI shareholders as to any material developments in relation to the Scheme as the timetable progresses.

Summary of Scheme of Arrangement and Outlook

Lithium Power International Limited (ASX: $LPI) has successfully lodged the scheme of arrangement becoming effective, allowing a wholly-owned subsidiary of Corporación Nacional del Cobre de Chile, Salar de Maricunga SpA, to acquire 100% of the share capital of LPI. LPI shareholders are set to receive A$0.57 cash for each LPI Share held as at the Scheme Record Date. The Scheme is expected to be implemented on Thursday, 14 March 2024. LPI aims to keep shareholders informed of any material developments as the timetable progresses.